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Shipbuilding, Aerospace Power GD To Strong Second Quarter

Cal Biesecker By
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Shipbuilding, Aerospace Power GD To Strong Second Quarter
Virginia-class submarine. Photo: General Dynamics

Continuing its strong momentum from the first quarter, General Dynamics [GD] on Wednesday reported handsome second quarter results driven by the company’s shipbuilding and Aerospace segments. Net income increased 12 percent to $1 billion, $3.74 earnings per share (EPS), from $905 million ($3.26 EPS) a year ago, beating consensus estimates by 19 cents per share. Sales rose 9 percent to $13 billion from $12 billion. Marine Systems posted impressive sales and operating earnings, up 22 percent to $4.2 billion and…

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